Gold prices edged lower in early trade on January 16 after a sustained rally, while silver prices continued to firm on industrial demand. Gold rates softened across major cities including Delhi and Mumbai, reflecting pressure from international markets, even as investors remained cautious.
After hovering near record highs over the past few sessions, gold showed signs of easing in both domestic and global markets. Prices declined marginally across key consumption centres, offering limited relief to buyers.
In Delhi, the price of 24-carat gold fell to Rs 1,43,760 per 10 grams on the morning of January 16, while 22-carat gold was quoted at Rs 1,31,790 per 10 grams. The decline from the previous session was modest.
In Mumbai, 24-carat gold was priced at Rs 1,43,610 per 10 grams, while 22-carat gold stood at Rs 1,31,640 per 10 grams. The same rates prevailed in Chennai and Kolkata.
Prices in Pune and Bengaluru were also largely unchanged, with 24-carat gold quoted at Rs 1,43,610 per 10 grams and 22-carat gold at Rs 1,31,640 per 10 grams.
In Ahmedabad, 24-carat gold was priced at Rs 1,43,660 per 10 grams and 22-carat gold at Rs 1,31,690 per 10 grams. In Jaipur, Lucknow and Chandigarh, 24-carat gold was quoted at Rs 1,43,760 per 10 grams and 22-carat gold at Rs 1,31,790 per 10 grams. Prices across other parts of central India remained within a similar range, with only marginal variation.
Internationally, spot gold prices weakened to $4,614.45 per ounce, reflecting profit-taking after recent highs. The pullback came despite expectations of potential interest rate cuts by the US Federal Reserve following softer inflation data.
Silver prices continued to rise in the domestic market. On the morning of January 16, silver was priced at Rs 2,95,100 per kilogram. Silver prices have risen by about 21 percent so far this year, supported by industrial and investment demand, including usage in solar panels, electric vehicles and other industrial applications.
